ml 350 lease?
 

my dealer was offering 699/mo for 33 months, 5% apr, with 3500 down (first month lease is free). i turned it down cuz i thought he was making too much money off the 5% apr. we had the premium II package with running boards. the dealer said it cost him 48k to make it and that by offering us this deal he was losing money. the residual value of the car is 58%. so the way i see it: residual value + total paid from lease + money down = sticker price. So that means: (48k*58%) + (699*32) + 3500 = 55,805. if it cost him 48k to make how cud he possibly be losing money??. and that's all BEFORE interest, of which they still profit. and also-i found the interest rate to be rather high (4.76%). he also said that they don't really own the car after the lease is up, but the bank does. did i deny myself a good deal, or did the dealer simply try to get over on us? thoughts on anything i've mentioned??

Note: the * symbol signifies multiplication

please help!

Thanks

RE: ml 350 lease?
 

i can get you a better deal on that car. Im picking up an ML350 next week for 575 with 800 at signing. MSRP 51,170. P1, htd seats, running boards and Ipod adpter. 33 months 7500 a year on lease.

RE: ml 350 lease?
 

Please call me if you are interested in a new ML lease, we have the best deals in the country. Derek.Metcalf@stlouismercedes.com

RE: ml 350 lease?
 

derek, what kinda of "best deal" do you have on a 2008ML with about 18000miles/yr lease??